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Tokyo stocks closed higher on Tuesday, as the Nikkei index reached the 26,000 mark for the first time in more than 29 years, on the back of hopes for an economic recovery after progress in developing the U. s. Coronavirus vaccine for pharmaceutical company Moderna Inc.
The 225-issue Nikkei index rose to 107. 69 points, or 0. 42 percent from Monday at 26014. 62, the highest closure since May 14, 1991. The broader Topix index of all TSE Division 1 releases finished 2. 85 points or 0. 16 percent, higher at 1,734. 66.
The letter U. s. The dollar is hovering in the middle of the 104 yen range on lingering concerns about a resurgence of the coronavirus infection in Japan and beyond.
Brokers said the Nikkei fell briefly into negative territory in the morning as some investors took profits from recent highs..
But it quickly found a foothold as market participants shifted their focus to Moderna’s nightly advertisement that its experimental vaccine had proven effective by nearly 95 percent, which came on top of a similar result released this month by Yu. . s. Pfizer pharmaceutical company.
“The Nikkei is full of weight. But Makoto Sengoku, a market analyst at the Tokai Tokyo Research Institute, said that issues such as air transport and undervalued railway operators (due to the epidemic) were recovering strongly « with increasing expectations that their operations will return to normal. ». .
However, some brokers have warned of a possible correction after the recent rapid gains of the index. The Nikkei is up more than 13 percent this month, buoyed by strong earnings from major Japanese companies, progress in vaccine development and the prospects for economic stimulus in the United States under President-elect Joe Biden.. .
Chihiro Ota, general manager of investment research at SMBC Nikko Securities Inc, said that the Nikkei « could drop by as much as 1,000 points in an instant anytime there is any sign of reaching (resistance) ».
Japan Airlines advanced 72 yen or 3. 7 percent to 2010 yen, while rival ANA Holdings rose 106. 00 yen or 4. 2 percent to 2,651. 50 yen.
The East Japan Railway rose 255 yen, or 4. 1 percent to 6,515 yen, with central Japan railways rising 620 yen, or 4. 4 percent, to 14,770 yen.
Against the positive trend, Capcom dropped 150 yen, or 2. 9 percent, to 5,000 yen after the video game maker said Monday that the personal information of up to 350,000 customers and clients had been stolen in a cyberattack..
Consumer electronics maker Twinbird sank 400 yen, or 21. 0 percent, to the daily minimum of 1,505 yen.
I have come forward with the potential demand for specialized portable freezers amid reports that the Pfizer filter vaccine should be stored at temperatures below 70 ° C or below. But on Tuesday, the company’s stock met with the sale after news that the vaccine Moderna developed could be stored in regular medical coolers..
Volume in the main division decreased to 1,373. 44 million shares from 1,407 on Monday. 49 million shares.
I now think that besides the daily virus cases in Tokyo, today Japan will announce its highest levels in the Nikkei225.
It is clear to those who do not yet realize that all companies are suffering and that they are a bubble of the stock market. You can cheer!
It’s actually about the endless money printing happening around the world. Asset inflation is the only trick left in late capitalism.
It’s a fake economy, the rich gamble / gamble with the extra money. If complaints go down with boustours and never ends. Meanwhile in the real world, people couldn’t afford to pay their mortgage and rent and food became the focus. Things fickle when the country’s focus is on losing profits to the wealthy and not on the well-being of the population.
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Stock, Vaccine, Nikkei 225, Moderna, TYO
World News – United States – Nikkei Index reaches 26,000 points for the first time in 29 years due to vaccine news
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